Business Curriculum

Increasingly, public school education is emphasizing business skills along with basic verbal and mathematical literacy in an effort to help tomorrow's business leaders acquire the skills they will need to help the U.S. remain competitive in the world market. The skills necessary to do this include critical thinking and other decision making skills; protocols and etiquette for in-person, written, and electronic communications; digital literacy; financial literacy; and ethical decision making. Although many of these skills can be taught in classroom settings, the most effective preparation for business is to tie classroom learning in with real world applications and supplement it with real world training.

Keywords: Keywords; Accounting; Business Education; Critical Thinking; Curriculum; Economics; Ethics; Leadership; Social Responsibility; Team

Overview

Why Study Business?

Historically, public school education has focused on helping students acquire basic mastery of the "three Rs" — reading, writing, and arithmetic — with enough other information to help them become good citizens of their community, country, and planet. The way this latter goal has been interpreted over the years has changed with the times. Today, for example, it is much more likely to see public school students study environmentalism in order to understand their impact on the world around them rather than home economics or shop, which in the past would prepare them for traditional gender roles. Despite these changes, however, the necessity of teaching the three Rs remains; no matter what career path students choose, they will need basic literacy and communication skills and must be able to perform basic mathematical operations in order to be eligible for jobs that will allow them to achieve their dreams, or to acquire the further education needed to do so.

The trouble, of course, is that young people often find it difficult to make the connection between learning basic verbal and mathematical literacy skills and other subjects taught in schools with the exciting futures that they envision for themselves. As a result, there are grocery clerks or fast food workers who cannot make change or telephone salespersons who must go through an entire prepared script in order to answer a customer's questions. Many high schools and even middle schools offer business courses to help students better understand the applicability of the skills they learn and to prepare them to study business skills at a college level or to enter the workforce after graduation (Canada Ministry of Education, 2006).

Business curricula in public schools are typically designed to help students acquire basic business skills rather than specific workplace skills. Due to the virtually unavoidable necessity of interacting in business environments, these general skills will be necessary for success in the 21st century. For example, even students who go on to pursue careers in medical fields will need to have skills for organizing and setting up an office and the accounting skills necessary for adequate cash flow. Similarly, those who go into artistic fields will need to be able to market and sell their works or performances or to be able to oversee the activities of managers and agents.

Applications

Goals of the Business Curriculum

Critical Thinking

Although the details of the business curriculum vary among school systems, there are several core areas that should be considered in a business studies curriculum. The first of these comprises the basic knowledge and skills needed for success in a business environment. One of the skills that are essential for success in the workplace is critical thinking. This is the active, disciplined mental process of conceptualizing, analyzing, synthesizing, and/or evaluating information and applying it to problems. The data used to inform critical thinking processes may be obtained through observation, experience, reflection, reasoning, or communication. As opposed to non-critical thinking, critical thinking goes beyond the mere acquisition and retention of information to process and evaluate the information and discern an appropriate course of action or thought. Critical thinking is essential to success in many business activities, including strategic planning, understanding and reaching one's target market, and making day to day decisions regarding the course of the business.

A related basic skill needed for success in business is problem solving. This can be viewed as the application of one's thinking skills to determine the optimum solution to a problem given the parameters and various elements of the situation. Problem solving abilities are important in business for the full range of business activities from day to day decisions through strategic planning.

Closely tied with these skills needed for business is the ability to understand and evaluate risk. Risk is the quantifiable probability that an investment's actual return will be lower than expected. Higher risks mean both a greater probability of loss and a possibility of greater return on investment. Risk assessment is the process of determining the potential loss and probability of loss of the organization's objectives. Risk assessment is one step in risk management. Risk management is the project management process of analyzing the tasks and activities of a project, planning ways to reduce the impact if the predicted normal course of events does not occur, and implementing reporting procedures so that project problems are discovered earlier in the process rather than later.

To provide the data needed to make sound business decisions, students must also learn good research skills not only for online and library research, but also for collecting and analyzing their own data. All these skills are necessary for strategic planning, which is the process of determining the long-term goals of an organization and developing a plan to use the company's resources — including materials and personnel — in reaching these goals. It is essential for a business to have a strategic plan of action to help the organization reach its goals and objectives. A good business strategy is based on the rigorous analysis of empirical data, including market needs and trends, competitor capabilities and offerings, and the organization's resources and abilities (Mahinda, 2006).

Interpersonal Skills

In addition to the intellectual skills necessary for success in business, students also need to learn interpersonal skills. The ability to relate well with employees, management, and customers, for example, can be the difference between success and failure for both a business and an individual. Increasingly, work in the 21st century requires teamwork skills. A team is a special group within which there is skill differentiation among members and the entire team works in the context of a common goal. Team members are committed to the goal and mission of the team and have a collaborative culture in which the members trust each other. Leadership of a team is shared, and members are mutually accountable to each other.

Digital Literacy

Whether one works in teams or as an individual, virtually every 21st century workplace in the western world requires knowledge of personal computers and basic digital literacy. Personal computers have become the backbone of most businesses today and are used for a wide variety of tasks from writing memos, conducting routine business correspondence, performing mathematical and financial calculations, and designing and updating web pages. These skills are needed whether a student decides to go directly into the business world after graduation from public school or to go on to higher education at a university or other institution. Among the computer literacy skills that need to be acquired are the fundamentals of operating systems and computer hardware, word processing and data input, data management, and information systems technology (Canada Ministry of Education, 2006).

Students expecting to enter the business world need to be familiar with basic application software programs that perform functions not related to the running of the computer itself. Word processing software, for example, allows the author of a document to create, change, edit, update, and format without the necessity of sending the document off to a typing pool. Similarly, bookkeeping and accounting procedures that once needed to be done painstakingly by hand can now be accomplished quickly — and can be easily changed or updated — using spreadsheet or other accounting software. Entry level positions for some business professions may also require basic proficiency in special application software packages such as graphics packages, photography editing packages, or web authoring software.

Communication Skills

Another set of skills necessary for high technology or scientific fields or for customer service include communication literacy and protocols. Students studying business in public school must learn to listen, speak, read, write, and represent thoughts professionally. This includes basic reading and writing literacy skills, and requires knowledge of business terminology, the ability to professionally format documents and emails and skill in communicating and presenting information both in oral presentations and through the written word. Students learning communication for business also need to be aware of and apply professional etiquette not only in person but also in written and electronic communications (Canada Ministry of Education, 2006). For example, students should learn how to best use social media in a professional manner. The use of social media in business is becoming increasingly common, but most companies don't offer social media training (Post, 2013).

Students should also understand the role of diversity in the workplace and how to interact with individuals of different cultures if they are to become valuable employees in an international marketplace.

Financial Literacy

Financial literacy skills are essential for success in business and are increasingly taught at the middle and high school levels. Students need to understand and be able to apply the basics of financial planning and money management both for their personal finances and in business applications. Included in this skills set are a basic understanding of credit concepts, financial decision making, investment, taxes, and the analysis of financial documents. Many public schools also teach basic economics concepts and accounting principles as part of their business curricula (Canada Ministry of Education, 2006).

Business Ethics

Finally, it is important for students to acquire an understanding of ethical business practices early on so that they become a habit that will be carried on into their work life. The incorporation of ethical principles into one's critical thinking processes can help avoid some of the egregious breaches of moral standards that have been seen in the business world in the early 21st century. Ethics as a discipline looks at the content of moral judgments such as what is right and wrong and the nature of these judgments, i.e., whether the judgments are subjective or objective. The study of ethics is important in the school business curriculum in order to produce business leaders who will set examples for future business conduct. One aspect of ethical studies is social responsibility. This is the philosophy that an individual, corporation, government, or other entity has the obligation to contribute to the welfare of its community. Social responsibility includes evaluating the impact of one's decisions or actions on others, in particular on those who are disadvantaged. The application of ethical principles applies not only to dealing with other people, but also to the impact of business processes and procedures on the environment. Corporate social responsibility programs are becoming more common as society increasingly expects companies to address environmental and social issues (Lim & Tsutsui, 2012). Students need to take into consideration issues of environmental responsibility and sustainability in their business decision making in order to be competitive in the business world of the future.

Viewpoint

Real-World Learning Experiences

It is important to present material in such a way that students can readily see the connections between basic skills taught in the classroom and real world applications. The School-to-Work (STW) Opportunities Act was enacted in 1994 in order to help the public school systems in the U.S. prepare the next generation of business leaders for their tasks. Federal funding for STWOA ended in 2001, but the act helped spur the creation of STW programs around the country. Many high schools, for example, offer STW programs (Hutchins & Akos, 2012). The purpose of the STW is to help link education reform and economic development. This is done through three related components. First, the STW encourages students to explore their career interests and options no later than the 7th grade and select a career major no later than the beginning of their junior year in high school. School-based learning is used to integrate academic and vocational learning to help students master core vocational skills. The second component of the STW is work-based learning, which comprises a planned program of job training and experiences that have been developed to supplement the student's classroom-learning experiences. Perhaps the most important component of the STW, however, is the connecting activities in which students are matched with work-based opportunities and a site mentor that helps the student acquire the skills necessary for success in the business world and connect the classroom learning to the real world (Gray, 2000).

The STW provides a framework for helping students acquire real world skills that are invaluable in the business world. However, these skills must be tied in with real world learning. Too often, for example, although students are trained in actual business settings, they are only evaluated using classroom assessment instruments such as paper-and-pencil tests. Students need to be evaluated using the same type of criteria with which their performance would be evaluated in the workplace after graduation.

Conclusion

Students should be exposed to business concepts long before they enter college or the workforce. Middle and high school students can be taught a variety of skills that will be invaluable in the business world, including critical thinking and other decision making skills; protocols and etiquette for in-person, written, and electronic communications; digital literacy; financial literacy; and ethical decision making. To be optimally effective, however, these skills need to be tied in to real world applications so that students can see and understand the applicability of classroom learning to the real world. Business curriculum in the public school system, therefore, often supplements classroom learning with job training and experiences and connecting activities. Through a combination of classroom and practical learning experiences of this kind, the next generation of business leaders will be better prepared to help the U.S. maintain its place as a global competitor in the free market economy.

Terms & Concepts

Accounting: The systematic practice of recording, verifying, and communicating the financial information of the organization. Accounting practices include recording transactions, keeping financial records, performing internal audits, and communicating this information to the appropriate stakeholders.

Critical Thinking: The disciplined mental process of conceptualizing, analyzing, synthesizing, and/or evaluating information and applying it to problems. The data used to inform critical thinking processes may be obtained through observation, experience, reflection, reasoning, or communication. As opposed to non-critical thinking, critical thinking goes beyond the mere acquisition and retention of information to process and evaluate the information and discern an appropriate course of action or thought.

Curriculum: A set of training or education courses that must be followed in sequence in order to acquire a diploma or degree. Curriculum may be used to refer to the set of courses or their content. (plural, curricula).

Economics: A social science that studies the production, distribution, and consumption of goods and services, the distribution of wealth, the allocation of resource as well as the theory and management of economic systems. Economics is concerned with the theories, principles, and models of economic systems.

Ethics: In philosophy, ethics refers to the study of the content of moral judgments (i.e., the difference between right and wrong) and the nature of these judgments (i.e., whether the judgments are subjective or objective).

Information Technology: The use of computers, communications networks, and knowledge in the creation, storage, and dispersal of data and information. Information technology comprises a wide range of items and abilities for use in the creation, storage, and distribution of information. An information system is a system that facilitates the flow of information and data between people or departments.

Leadership: The process of influencing people and providing an environment in which they can achieve team and organizational objectives. Leadership can be attempted, successful, or effective depending on the response of those who the leader is attempting to lead. The term leadership can also be used to refer to those within an organizational setting that have the responsibility of balancing the interests of all organizational stakeholders, setting and communicating a vision for the organization, and inducing others to help meet the vision.

Social Responsibility: The philosophy that an individual, corporation, government, or other entity has the obligation to contribute the welfare of the community of which it is a part. Social responsibility includes taking the impact of one's decisions or actions on others, in particular those who are disadvantaged.

Team: A group in which there is skill differentiation among team members and the entire team works in the context of a common goal. Team members are committed to the goal and mission of the team and have a collaborative culture in which the members trust each other. Leadership of a team is shared, and members are mutually accountable to each other.

Word Processing: The use of a computer to create, edit, and store, documents electronically. Word processing was once done on stand alone, dedicated computers but today is typically done through application software on a personal computer or workstation.

Bibliography

Bennett, J. V. (2008). Work-based learning and social support: Relative influences on high school seniors' occupational engagement orientations. Career and Technical Education Research, 32 , 187-214. Retrieved 27 July 2010 from EBSCO Online Database http://search.ebscohost.com/login.aspx?direct=true&db=ehh&AN=54856301&site=ehost-live

Canada Ministry of Education. (2006). The Ontario Curriculum, Grades 11 and 12: Business Studies (rev.). Retrieved 27 July 2010 from Ministry of Education http://www.edu.gov.on.ca/eng/curriculum/secondary/business1112currb.pdf

Dymond, S. K., Neeper, L. S., & Fones, D. (2010). Typing with purpose: Linking the word processing curriculum to real world applications through service learning. Clearing House, 83 , 33-38. Retrieved 27 July 2010 from EBSCO Online Database Academic Search Complete http://search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=47735089&site=ehost-live

Gray, D. L. (2000). Shaping America's workforce for the new millennium. Education, 120 , 631-633. Retrieved 27 July 2010 from EBSCO Online Database Academic Search Complete http://search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=3364320&site=ehost-live

Hutchins, B. C., & Akos, P. (2013). Rural High School Youth's Access to and Use of School-to-Work Programs. Career Development Quarterly, 61, 210-225. Retrieved December 1, 2013 from EBSCO Online Database Education Research Complete. http://search.ebscohost.com/login.aspx?direct=true&db=ehh&AN=90154596&site=ehost-live

Lim, A., & Tsutsui, K. (2012). Globalization and Commitment in Corporate Social Responsibility: Cross-National Analyses of Institutional and Political-Economy Effects. American Sociological Review, 77, 69-98. Retrieved December 1, 2013, from EBSCO Online Database Education Research Complete. http://search.ebscohost.com/login.aspx?direct=true&db=ehh&AN=70895961&site=ehost-live

Mahinda, D. D. (2006, July). State of the art business education: Career and technical education curriculum revitalization initiative. Retrieved 27 July 2010 from Illinois Office of Educational Services Website http://www.ilcte.org/content-areas/business-marketing-management/docs/soabefinal.pdf

Post, P. (2013). Embrace Social Media Carefully. Training, 50, 56. Retrieved December 1, 2013, from EBSCO Online Database Education Research Complete. http://search.ebscohost.com/login.aspx?direct=true&db=ehh&AN=86891375&site=ehost-live

Suggested Reading

Bishop, J. H. & Mane, F. (2005). Raising academic standards and vocational concentrators: Are they better off or worse off? Education Economics, 13 , 171-187. Retrieved 27 July 2010 from EBSCO Online Database Education Research Complete http://search.ebscohost.com/login.aspx?direct=true&db=ehh&AN=16928676&site=ehost-live

Chadd, J. & Anderson, M. A. (2005). Illinois work-based learning programs: Worksite mentor knowledge and training. Career and Technical Education Research, 30 , 25-45. Retrieved 27 July 2010 from EBSCO Online Database Education Research Complete http://search.ebscohost.com/login.aspx?direct=true&db=ehh&AN=20801538&site=ehost-live

Dennis, A. R., Duffy, T. M., & Cakir, H. (2010). IT programs in high schools: Lessons from the Cisco Networking Academy program. Communications of the ACM, 53 , 138-141. Retrieved 27 July 2010 from EBSCO Online Database Business Source Complete http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=51912823&site=ehost-live

Grimes, P. W., Rogers, K. E., & Smith, R. C. (2010). High school economic education and access to financial services. Journal of Consumer Affairs, 44 , 317-335. Retrieved 27 July 2010 from EBSCO Online Database Business Sources Complete http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=51126884&site=ehost-live

Grubb, W. N. & Lazerson, M. (2005). The education gospel and the role of vocationalism in American Education. American Journal of Education, 111 , 297-319. Retrieved 27 July 2010 from EBSCO Online Database Education Research Complete http://search.ebscohost.com/login.aspx?direct=true&db=ehh&AN=16800377&site=ehost-live

Gustafsson, U. A. (2002). School-arranged or market-governed workplace training? A labour market perspective. Journal of Education and Work, 15 , 219-236. Retrieved 27 July 2010 from EBSCO Online Database Education Research Complete http://search.ebscohost.com/login.aspx?direct=true&db=ehh&AN=6790463&site=ehost-live

Gustman, A. L. & Steinmeier, T. L. (1982). The relation between vocational training in high school and economic outcomes. Industrial and Labor Relations Review, 36 , 73-87. Retrieved 27 July 2010 from EBSCO Online Database Business Source Complete http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=4464477&site=ehost-live

Lynn, B., Shehata, M., & White, L. (1994). The effects of secondary school accounting education on university accounting performance — a Canadian experience. Contemporary Accounting Research, 10 , 733-758. Retrieved 27 July 2010 from EBSCO Online Database Business Source Complete http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=10986036&site=ehost-live

Marks, M. & Kotula, G. (2009). Using the circular flow of income model to teach economics in the middle school classroom. Social Studies, 100 , 233-242. Retrieved 27 July 2010 from EBSCO Online Database Academic Search Complete http://search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=44732493&site=ehost-live

McInerny, P. M. (2003). The student-managed investment fund at the high school level. Clearing House, 76 , 252-254. Retrieved 27 July 2010 from EBSCO Online Database Academic Search Complete http://search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=10830199&site=ehost-live

Norstrom, B., Smith, C., & Haglund, A. (2008). Getting girls EX.I.T.E.D about project management. Learning and Leading with Technology, 36 , 24-28. Retrieved 27 July 2010 from EBSCO Online Database Education Research Complete http://search.ebscohost.com/login.aspx?direct=true&db=ehh&AN=35428087&site=ehost-live

Reeves, T. C. (2006). The Spellings Report: An inadequate fix. Academic Questions, 20 , 56-60. Retrieved 27 July 2010 from EBSCO Online Database Academic Search Complete http://search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=25149597&site=ehost-live

Taylor, A. (2005). Finding the future that fits. Gender and Education, 17 , 165-187. Retrieved 27 July 2010 from EBSCO Online Database Academic Search Complete http://search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=15545162&site=ehost-live

Walstad, W. B. & Buckles, S. (2008). The national assessment of educational progress in economics: Findings for general economics. American Economic Review, 98 , 541-546. Retrieved 27 July 2010 from EBSCO Online Database Business Source Complete http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=32543699&site=ehost-live

Wilson, F., Kickul, J., Marlino, D., Barbosa, S. D., & Griffiths, M. D. (2009). An analysis of the role of gender and self-efficacy in developing female entrepreneurial interest and behavior. Journal of Developmental Entrepreneurship, 14 , 105-119. Retrieved 27 July 2010 from EBSCO Online Database Business Source Complete http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=44071183&site=ehost-live